J.C. Penney Lays Off 350 Workers

J.C. Penney says it's laying off 350 more workers at its headquarters in Plano, Tex., as the department store struggles to transform its business under Ron Johnson, a new CEO and former Apple executive. Penney shares soared last winter after Johnson laid out a new pricing strategy; they hit a peak of $43.13 on Feb. 9, but have since lost half their value.